Columbia Financial announces second-step conversion and merger with Northfield Bancorp

Key points

• Columbia Financial completed its second-step conversion from mutual holding company to stock holding company
• The merger with Northfield Bancorp Inc. has been finalized
• The public offering related to the conversion was completed
• Columbia Bank and Northfield are now operating as a merged entity

FAQ

What is a second-step conversion in banking?

A second-step conversion is when a mutual holding company completes its transformation into a stock holding company through a public offering, allowing it to raise capital and become a publicly traded company.

What does the merger mean for customers?

The merger combines Columbia Bank and Northfield Bancorp operations under one entity, potentially affecting account management, branch locations, and service offerings for customers of both institutions.